C150016 Contract

• Contract/PO #: C150016
• Contractor Name: Idaho Springs, City of
• Contract Type: Loan
• Water District: 7
• County: Clear Creek
• Bill Number: HB 98-1189
• Loan Projects - Doc Type: Contract Documents

F. At its July 23-24, 2001 meeting, the CWCB approved increasing this loan by
$210,000, for a total loan amount of up to $1,165,000, to finance up to 75% of the
total PROJECT cost. The terms for the additional $210,000 loan amount are an interest
rate of 5.5% per annum and a repayment period of 30 years.

G. The CWCB and the CONTRACTOR have agreed to amend this contract to increase the
amount of the loan by $210,000, for a total loan amount of up to $1,165,000, which
may be used to finance up to 75% of the total PROJECT cost.

NOW THEREFORE, it is hereby agreed that

1. Consideration for this Amendment to the ORIGINAL CONTRACT consists of the payments
that shall be made pursuant to this Amendment and the ORIGINAL CONTRACT and the
promises and agreements herein set forth.

2. It is expressly agreed by the parties that this Amendment is supplemental to the
ORIGINAL CONTRACT and all terms, conditions, and provisions thereof, unless
specifically modified herein, are to apply to this Amendment as though they were
expressly rewritten, incorporated, and included herein.

3. The CWCB agrees that it shall loan the BORROWER an additional $210,000 at an
interest rate of 5.50% per annum for a term of 30 years, in addition to the original
loan of $955,000 at an interest rate of 5.0% per annum for a term of 30 years, to be
used to finance up to 75% of PROJECT costs.

4. The CONTRACTOR has adopted an ordinance, irrepealable for the term of this loan,
authorizing the CONTRACTOR to enter into this contract amendment to borrow the
additional $210,000, to establish and collect water and sewer user charges, rates and
fees ("system revenues") sufficient to pay the annual loan payments, to pledge said
system revenues for repayment of the loan, and to execute documents necessary to
convey a security interest in said system revenues to the CWCB. Said ordinance is
attached as Attachment A.

5. Prior to the execution of this Amendment by the CWCB, the CONTRACTOR shall
submit to the CWCB a letter from its Red Book Bond Counsel staling that it is the
attorney's opinion that (1) the person(s) Signing for the CONTRACTOR was duly
elected or appointed and has authority to sign such documents on behalf of the
CONTRACTOR and to bind the CONTRACTOR; (2) the CONTRACTOR'S governing body
has validly adopted an ordinance approving this Amendment; (3) there are no
provisions in the any state or local law that prevent this Amendment from binding the
CONTRACTOR; and (4) this Amendment will be valid and binding against the
CONTRACTOR if entered into by the CWCB.

6. The CONTRACTOR agrees that it shall execute the following documents, all of which
shall set forth the loan amount of $1,165,000:

City of Idaho Springs

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Contract Amendment No.1